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Market Further: Biden is aiming for the very best inventory market rally in 92 years earlier than opening

Former Vice President Joe Biden will be sworn in as the 46th U.S. President on Wednesday, and his to-do lists will last an extraordinarily long time as he tries to get the country out of the worst pandemic in a century and mend breaks in American politics .

But with at least one measure, Biden's supporters could point to the new president's positive impact on the stock market since the November 3 election as an early achievement, even if it's difficult to pinpoint all of the recent gains from Donald Trump's regime change after Biden.

Read: Joe Biden To Be Inaugurated As 46th President, So Watch On

Historically, one-year-old Republican President Herbert Hoover was the absolute champion for election day through inauguration day performance, rallying 13.3% on the S&P 500 index
SPX,
+ 0.95%
between his election on November 6, 1928 and his first day in office.

Check out: How Trump's stock market performance is developing

In the eleven weeks between the November 3rd election and Tuesday, the S&P 500 rose a dazzling 12.76%, according to FactSet data.

That return puts Biden in second place in performance, after Republican Hoover, with an exterior shot dwarfing Iowan's year-old Commander in Chief, who served from 1929-1933, and his legacy of soup lines and economic downturn.

Dow Jones market data

Hoover's presidency was marred by the stock market crash of 1929, which occurred about eight months after his term in office and which would eventually be viewed by many as the starting point of the Great Depression.

However, Biden is hoping for a more promising presidency, though his term begins during a dire phase of the COVID-19 pandemic.

Dow Jones market data

On Tuesday, the US passed a milestone of over 400,000 reported deaths from COVID-19 as the deadly pathogen that established itself almost a year ago experiences a new resurgence.

Meanwhile, the U.S. teetered after an apparent uprising that saw thousands of protesters, particularly those claiming Trump supporters, storm the Capitol two weeks ago, resulting in a historic second impeachment of the 45th president, who was for his help was blamed in sparking the riots that led to the deaths of five people.

Perhaps more than any other president, Trump prevented his success as a leader from the performance of the economy and the stock market, which have collapsed in the face of the aftermath of the virus outbreak. Trump's loss of the election was largely related to his management of the public health crisis.

The pandemic has shaped the U.S. presidential election, forcing a historic number of remote votes to limit the spread of the virus and delay returns in some states. The Associated Press didn't declare Biden the winner in key states until November 7th.

And although Biden was involved in the latest advancement in the market for the S&P 500, the Dow Jones Industrial Average
DJIA,
+ 0.59%
and the Nasdaq Composite Index
COMP,
+ 1.52%
Since November, there has also been an increase in the introduction of high-potency vaccines from Pfizer
PFE,
-0.33%
-BioNTech
BNTX,
-1.24%
and Moderna
MRNA,
-1.60%,
This is helping to raise hopes for a near-term economic recovery from the epidemic.

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